The Vietnam Food Association (VFA) reports Vietnam exported around 6.6 million tonnes of rice in 2013, and Africa is its second largest rice importer after China, accounting for nearly 30% of total export value.
Vietnamese rice is favoured in Africa due to its competitive prices and good quality. Fragrant rice currently has the highest export growth to the continent.
Last year, Vietnam signed a memorandum of understanding (MoU) on rice trade with Guinea. Accordingly, it has agreed to supply 300,000 tonnes per year to the African nation from April 1, 2013 to December 31, 2015.
It also signed such an MoU with Comoros, under which 60,000 tonnes of rice will be shipped to the country from August 2013 to December 2015.
In addition Vietnam penned a similar MoU with Sierra Leone.
It is hoped that these MoUs will help rice export businesses fulfill contracts with partners and avoid the unnecessary risks of paying through an intermediary.
To help domestic businesses boost rice exports to Africa, the Ministry of Industry and Trade will make a fact-finding tour of two key markets, Ivory Coast and Angola, to negotiate MoUs on rice trade with these countries.
The ministry will invite African businesses to visit Vietnam to expand rice export cooperation. It is working with Vietnamese Trade Offices in African countries to support businesses in opening representative offices and warehouses in Africa.
